Author: Michael Gersitz

Kicking off people movers for the week, Opendoor announced it hired a new chief investment officer, naming Daniel Morillo to lead the iBuyer’s pricing and data science efforts. As chief investment officer, Morillo will oversee the strategy and development of

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Guild agreed to settle the federal lawsuit, brought

The NAR existing home sales report released today blew out all estimates with 6,540,000 in existing home sales. This epic headline punctured any 2020 bubbles the housing bubble boys had left in their arsenal. But before we get too excited,

Earlier this year, First American made its latest move toward a fully digital mortgage with its purchase of mortgage tech firm Docutech. Now, that purchase is driving up the company’s revenues. The company rebranded to First American Docutech in September

Stewart Appraisal Management, a subsidiary of Stewart Information Services Corp., announced on Thursday it acquired valuation services company Pro Teck Valuation Intelligence. Stewart is looking to strengthen and expand its scale in the appraisal and valuation solutions space. With more

Sales of existing homes took off in September, jumping 9.4% from August to a seasonally adjusted annual rate of 6.54 million, the National Association of Realtors said in a report on Thursday. Compared to a year ago, sales are up 20.9%. “Home

The MBA’s economic research team of Dr. Michael Fratantoni and his staff made national news at the MBA’s annual virtual convention, releasing a projection for 2020 of $3.18 trillion, the second-largest origination year in U.S. history next to 2003.  It’s

The number of seriously delinquent mortgages fell by 43,000 in September – the first drop in mortgages 90-days past due since the beginning of the pandemic, Black Knight said in a report on Thursday. According to the report, more than

The average U.S. mortgage rate for a 30-year fixed loan fell to 2.8% this week, another record low, Freddie Mac said in a report on Thursday. The rate fell one basis points from the week prior and is now six basis points

As the mortgage industry moves toward increasing adoption of remote online notarization, a panel of experts at the Mortgage Bankers Association Annual conference said uniformity will be key. Speaking at the session titled “Strategy & Technology Track: COVID Hit. Social

Major forbearance policy changes have been set into motion. The Department of Housing and Urban Development announced on Tuesday an extension allowing single-family homeowners with Federal Housing Administration-insured mortgages to request an initial forbearance through Dec 31, 2020. Homeowners with

The housing market faced a lot of uncertainty when COVID-19 caused the real estate industry to pause under shut-downs, but low interest rates and the desire for more space has turned this year into a boom time for real estate

The Consumer Financial Protection Bureau appears to have lost an opportunity to correct a nagging issue in its definition of a qualified mortgage. The current rule provides safe harbor protection to lenders from potential litigation brought by borrowers for loans

Tucked right into the end of the home-buying process is the unique opportunity for title companies to connect with borrowers on how they can give back to the community together.  Title companies and agents are often the last people to

Lone Star Funds‘ residential mortgage lender Caliber Home Loans hopes to raise up to $538 million at its highly anticipated public debut next week, according to documents filed with the Securities and Exchanges Commission on Wednesday. Caliber, based in Coppell,